Garmin® signs purchase agreement to acquire Tacx, the leading manufacturer of indoor bike trainers

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SCHAFFHAUSEN, Switzerland–(BUSINESS WIRE)–Garmin Ltd. (NASDAQ: GRMN), today announced that one of its affiliates
has signed a definitive agreement to acquire all of the outstanding
shares of Tacx Onroerend en Roerend Goed B.V (“Tacx”), a privately-held
Dutch company that designs and manufacturers indoor bike trainers, tools
and accessories, as well as indoor training software and applications.
The completion of this acquisition is subject to customary regulatory
approvals and closing conditions.

The market leader with more than five decades of experience, Tacx is
best known for its innovative line of indoor smart trainers, including
the highly-regarded NEO 2 and the revolutionary NEO Bike, that measures
speed, power and cadence. Offering a highly realistic and accurate ride
simulation, Tacx trainers allow cyclists to experience lifelike
conditions, no matter the weather. For the most interactive and
immersive indoor experience, the Tacx smart trainers connect wirelessly
to popular training apps to help cyclists get more from their workouts,
as well as the Tacx software/training app that offers training plans,
data analysis, films of scenery all over the globe, live opponents and
much more.

“Tacx brings an entirely new product category to Garmin’s fitness
portfolio that expands our reach into the indoor training market,” said
Cliff Pemble, Garmin president and CEO. “Together with Tacx, Garmin will
offer a seamless, enjoyable and motivating indoor and outdoor

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